Transferring Money

[misslilly]

Hi all

For those of you already there, how did you go about transferring money?

I know there is brokers or agents whatever they're called, but how do they operate, do they charge a high commission fee? Do they have better exchange rates to the banks?

I can transfer my money to my sisters account in Oz, and was just going to do it through the banks, but obviously want to get the best exchange rate, so any advice would be appreciated!!

Many thanks
Sam xxx

[uksniper]

I would use one of the currency brokers. Try www.hifx.com. You can pick the exchange rate you want to change at, do it in advance by paying a deposit up front and its all done at no cost to you. They do not charge commssion, they make their money by keeping the excess. (ie if you picked $2.50 and it went up to $2.51 they would cream off the 1 cent). They deal in millions so they make enough money to get by.

No I do not work for them, they were recommended to me same as I am doing to you.

[seaangel]

Originally Posted by misslilly

Hi all

For those of you already there, how did you go about transferring money?

I know there is brokers or agents whatever they're called, but how do they operate, do they charge a high commission fee? Do they have better exchange rates to the banks?

I can transfer my money to my sisters account in Oz, and was just going to do it through the banks, but obviously want to get the best exchange rate, so any advice would be appreciated!!

Many thanks
Sam xxx

Before we moved ove, we registered with HIFX, Ozforex and Moneycorp. On the day Moneycorp offered us the best rate and so we used them. It was all very painless.

[koala12]

Hi,
We opened Commonwealth Bank of Australia accounts in London and they automatically link them to wherever in Oz you are going and they stay open for 2 years so you can transfer funds between accounts/countries. It is free for transactions over £15k and I think about £15 for those under so cheaper than normal bank transfers overseas.